The bail hearing for Binance Holdings Limited and one of its executives, Tigran Gambaryan, scheduled before Justice Emeka Nwite of the Federal High Court in Maitama, Abuja, on Thursday, April 18, 2024, was postponed due to a recent application submitted by the defense counsel for the second defendant, Mark Mordi, SAN.
The defense’s application, comprising a supplementary affidavit in response to the opposition raised by the Economic and Financial Crimes Commission (EFCC) against the initial bail request, was unable to proceed as the EFCC’s representative, Ekele Iheanacho, requested a postponement to adequately address it.
“In consideration of the nature of this criminal trial, it is imperative that due process is observed. It would be unjust for me to overlook the necessity of a fair trial. Though inconvenient, it is imperative that we properly respond to the defense’s submission. Hence, we seek a brief adjournment until Monday or Tuesday to prepare and present our rebuttal,” stated Iheanacho.
Mordi did not contest the prosecution’s request for an adjournment but pointed out the prosecution’s assertion that the defendant posed a flight risk due to dual nationality.
“It has come to our attention that the prosecution possesses intelligence suggesting the defendant may attempt to flee, given his dual nationality. While we were unaware of this fact, we are prepared to address it here and now. We propose granting the prosecution a two-hour window to present this evidence as the freedom of my client hangs in the balance,” remarked Mordi.
Following deliberation, Justice Nwite adjourned the proceedings until April 22, 2024, to address the bail application.
Tigran Gambaryan faces charges brought forth by the EFCC regarding alleged money laundering totaling $34,400,000. He stands accused alongside Binance Holdings Ltd and Nadeem Anjarwalla, who is currently evading authorities, on counts related to tax evasion, currency speculation, and money laundering.
